Analysis of wave counting:
Having failed to determine the direction of the movement, yesterday's USD / CHF pair traded within a fairly narrow price range, limited to the level of 1.0000 and a mark of 1.0045. At the same time, it can be assumed that the currency pair began to make attempts to complete the formation of the highly oblong wave c, c, B, (2), A, (B). At the same time, the currency pair retained the potential for working out a settlement target at around 1.0065, with the subsequent transition to the stage formation of the future wave C, (2), A, (B).
The objectives for the option with an upward wave:
1.0064 - 76.4% of Fibonacci
The objectives for the option with a downward wave:
0.9751 - 50.0% of Fibonacci
0.9625 - 38.2% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build an uptrend. Wave counting has suffered some changes. Within the limits of the wave c, c, B, (2), A, (B), the quotes continue to rise with targets near the estimated level of 1.0064, which corresponds to 76.4% of Fibonacci. After the completion of the construction of this wave, a long decline is expected within the framework of wave C, (2), A, (B).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.